We Dodged a Bullet: Cresco, Columbia Care Merger Up in Smoke
Officially called off, the “Walmart of Weed” plan is up in smoke.
Imagine the biggest cannabis company in the United States, taking over the market like Walmart or Amazon. Gross, right? This could’ve been our reality if the $2 billion merger between Cresco Labs and Columbia Care had gone through. But guess what? It didn’t, and I’m sitting here laughing with a sense of relief, not just for myself, but for the sake of social equity in the cannabis industry.
Here’s why I think the merger’s fall is good news.
As someone who’s walked the walk in this industry, (this next session in congress is my 23rd as an activist) and honored to serve on the Executive Board at the Colorado NORML chapter, I believe that this slowing down gives us all a chance to actually implement social equity aspects of cannabis legislation. And we NEED that.
Consider this the “correction” phase; without it, the industry won’t survive long term. Corruption would eat it up. It’s not just about adult use and medical benefits anymore; it’s about social justice, too. Consumers want to support local, small, homegrown, and woman owned like never before! I’m here for it 🙌
LEST WE FORGET
Let’s not forget about the non-violent cannabis criminals still locked up while giants were planning to rule the market. The irony is too thick to ignore. It’s such sweet irony, and simultaneously a relief that the merger was delayed once, and now, it’s outright cancelled. No doubt, the industry has been having a rough ride recently, but this is a big win for social equity. I’m happy.
WHAT ABOUT PDIDDY?
Let’s not ignore the one line saying that these companies ditched their mega multi state deal with Diddy Combs. That is HUGE!!!
This means something. It shows that people want more than big names - they want to support local, they want to support small businesses, they want to support equitable practices. They want to support legacy cannabis.
CANNABIS FIVE YEAR PREDICTION
Let me tell ya, the next five years are going to be something else. With consumers supporting small businesses and understanding the importance of their choices, we’re about to see a rise of the legacy cannabis market.
There’s no better time to stand out, to make a difference, and to add value. The Herbal Creative Design Studio (that’s me!), is ready to help you do just that with smart design and marketing solutions and deep industry and legislative knowledge.
Cheers to the demise of a would-be behemoth, and to a more equitable, more just, and more balanced cannabis industry for all 🙌